Middlesbrough apprehended alleged spy last week Saints may claim that the offender was an intern Middlesbrough have been approached by fellow Championship clubs who harbour suspicions that their pre-match training sessions may also have been spied on by Southampton. The English Football League has charged the south-coast club with misconduct after a member of Tonda Eckert’s backroom was allegedly ...
Middlesbrough apprehended alleged spy last week Saints may claim that the offender was an intern Middlesbrough have been approached by fellow Championship clubs who harbour suspicions that their pre-match training sessions may also have been spied on by Southampton. The English Football League has charged the south-coast club with misconduct after a member of Tonda Eckert’s backroom was allegedly caught breaching regulations by filming and making audio recordings of one of Kim Hellberg’s final practice sessions before his Middlesbrough side faced Eckert’s Southampton in Saturday’s playoff semi-final first leg at the Riverside Stadium. As Hellberg prepares his players for Tuesday’s second leg at St Mary’s Stadium with the score goalless, Championship rivals are understood to be examining any available CCTV training-ground footage from recent weeks. Continue reading...
Key PointsFlexShares Global Quality Real Estate Index Fund provides exposure to United States property markets while Xtrackers International Real Estate ETF strictly avoids them.
Key PointsFlexShares Global Quality Real Estate Index Fund provides exposure to United States property markets while Xtrackers International Real Estate ETF strictly avoids them.
Hong Kong’s smaller grocers are bracing for pressure amid a fresh wave of price cuts by supermarkets and big retail chains, but some economists say their “neighbourhood connection” could help them stay afloat. A lawmaker also said it was unlikely the big local chains would monopolise the market citing strong competition from online shopping platforms. The latest price war erupted ahead of Mother’s...
Hong Kong’s smaller grocers are bracing for pressure amid a fresh wave of price cuts by supermarkets and big retail chains, but some economists say their “neighbourhood connection” could help them stay afloat. A lawmaker also said it was unlikely the big local chains would monopolise the market citing strong competition from online shopping platforms. The latest price war erupted ahead of Mother’s Day on Sunday, with CK Hutchison-backed ParknShop and Jardine Matheson’s Wellcome each offering 12...
junce/iStock via Getty Images No one likes to lose money. As I've referenced many times on Seeking Alpha, I lost millions of dollars tied to a bad business partnership that collided head-on with the Global Financial Crisis. Looking back, there are countless lessons to be learned from that painful chapter in my life. While my story may be unique in some ways, the reality is that most investors have...
junce/iStock via Getty Images No one likes to lose money. As I've referenced many times on Seeking Alpha, I lost millions of dollars tied to a bad business partnership that collided head-on with the Global Financial Crisis. Looking back, there are countless lessons to be learned from that painful chapter in my life. While my story may be unique in some ways, the reality is that most investors have experienced losses at one time or another. And here's the hard truth: the older you get, the harder it becomes to earn back your money. That's one of the primary reasons I regularly write articles on Seeking Alpha: to help investors avoid danger before permanent damage is done. In investing, protecting principal should always come before chasing yield, hype, or unrealistic total-return promises. One of the best risk mitigators, of course, is diversification. As Sir John Templeton explained, "The only investors who shouldn't diversify are those who are right 100% of the time," which means that concentrating too heavily can lead to devastating losses. Investing without diversification is like walking into a casino and putting all of your chips on red or black at the roulette table. If you're right, you win big. But if the ball lands on the other color (or worse, green) you can lose everything in a single spin. Diversification is the opposite approach. Instead of betting everything on one outcome, you spread your chips around the table so one bad result doesn't wipe you out. Templeton's point was simple: Unless you can predict the future with 100% accuracy (which nobody can) it's dangerous to bet everything on one stock, one REIT, one sector, or one idea. Great investing isn't about being perfect/ It's about surviving mistakes and staying in the game long enough to compound wealth over time. Successful long-term investing is built on discipline, patience, and avoiding catastrophic mistakes. As we head into Mother's Day weekend, I decided to dedicate this article to my mother:...
sefa ozel/iStock via Getty Images Since my last article , the Athabasca Oil ( ATHOF ) thesis worked out better than I was initially expecting. The shares went up quite a lot, almost 140%, but now due to this, the risk to reward changed. My previous buy rating was due to strong free cash flow, low valuation, low debt, and ability to earn with low WTI prices. This part indeed played out well. The bu...
sefa ozel/iStock via Getty Images Since my last article , the Athabasca Oil ( ATHOF ) thesis worked out better than I was initially expecting. The shares went up quite a lot, almost 140%, but now due to this, the risk to reward changed. My previous buy rating was due to strong free cash flow, low valuation, low debt, and ability to earn with low WTI prices. This part indeed played out well. The business did not disappoint me either. I do not think that the company is a deep value setup that it was when I covered it. I still like the business, but it is currently due to other reasons. In short, I believe that majority of the upside has been captured. Due to this reason, I want to revisit this thesis and see whether we have any plays left. What Changed? When I first wrote about Athabasca, this stock was more of a valuation mismatch. In other words, the company was simply undervalued by the market when it had a clean balance, good reserves, and strong free cash flow. Also, they did what investors like a lot - share buybacks. Currently I think that the situation is different. Athabasca is not that cheap of a stock now; it is more dependent on the execution story. This gives new risks as investors need to believe that the company will successfully use Leismer expansion, and Duvernay growth and continue to rationally distribute the capital. It is important that the business since my last article did not break. On the contrary, the company executed quite well. 2025 production grew 7% that year, which allowed them to reach the guidance. Adjusted Funds Flow was $504 million, cash flow from operations was $520 million, and Thermal Oil free cash flow was $217 million. Quite solid numbers to be fair. However, I see one flaw in this, as in 2024 Thermal Oil free cash flow was $321.7 million, so FCF quality in the short term does not look that clean. Production is rising, but Leismer and Duvernay's capex temporarily puts pressure on cash flow. Operationally, Athabasca looks also s...
Boy Wirat/iStock via Getty Images Co-authored with Beyond Saving Over the decades, debt has become increasingly intertwined with the American lifestyle. Consumers have gotten used to buying homes and cars primarily through borrowing. Most have numerous credit cards, home equity lines of credit, personal loans, or other debt. While it is a great convenience to get what you want right now, everythin...
Boy Wirat/iStock via Getty Images Co-authored with Beyond Saving Over the decades, debt has become increasingly intertwined with the American lifestyle. Consumers have gotten used to buying homes and cars primarily through borrowing. Most have numerous credit cards, home equity lines of credit, personal loans, or other debt. While it is a great convenience to get what you want right now, everything is more expensive when you borrow. There are two types of people in this world: those who pay interest and those who collect it. I believe that it's much better to be on the side of collecting interest. Life is much less stressful if you are debt-free or only have debt that you can easily pay off whenever you want to. All too often, we hear the stories of people who found themselves going down the road of snowballing interest payments. Each payment seemed manageable on its own, but then they find that they are never paying down the principal as interest consumes a large portion of their spending. Maybe you've been there yourself; it is an unpleasant situation. The good news is that the interest snowball works the other way as well. If you invest in debt or companies that lend and pay you dividends, you will find that the income coming into your portfolio snowballs. As you reinvest a portion of your cash flow, you will get even more in the future. Today, we're going to take a look at two investment opportunities that collect interest and pass it along to you in the form of dividends. Pick #1: DMB – Yield 5.4% BNY Mellon Municipal Bond Infrastructure Fund ( DMB ) is a CEF (Closed-End Fund) that invests in municipal bonds. DMB recently increased its distribution by another 19%, after increasing its distribution 26.7% and 10.5% last year, for a total increase of 66% from April 2025. DMB's distribution is now just 6% below where it was when the Fed started hiking rates in 2022, and we expect that in the future its distribution will climb even higher. To understand why DMB redu...
The S&P 500 index (SNPINDEX: ^GSPC) is trading near all-time highs despite the geopolitical conflict in the Middle East, high oil prices, and increasing concerns around a global recession. If you are like me, you probably watch all this with wonder, trying to understand why Wall Street is so positive given all of the negatives in the world today. Now could be a time to downshift on risk, leaning i...
The S&P 500 index (SNPINDEX: ^GSPC) is trading near all-time highs despite the geopolitical conflict in the Middle East, high oil prices, and increasing concerns around a global recession. If you are like me, you probably watch all this with wonder, trying to understand why Wall Street is so positive given all of the negatives in the world today. Now could be a time to downshift on risk, leaning into investments that have proven track records, like Johnson & Johnson (NYSE: JNJ) and Coca-Cola (NYSE: KO) . Johnson & Johnson is one of the world's largest healthcare companies. Coca-Cola is one of the world's largest consumer staples companies . While they operate in entirely different industries, there are two things that tie them together from an investment standpoint. First, healthcare and food are both necessities that you will continue to buy regardless of the stock market or economic environment. Image source: Getty Images. Continue reading
ratpack223/iStock via Getty Images Investment Thesis I initiate coverage on Angel Studios ( ANGX ) with a Buy rating. The entertainment industry has historically destroyed an enormous amount of capital. Every traditional studio carries the structural risk that a single mega-flop can wipe out years of profits. Disney's "John Carter" and Warner's "Joker: Folie à Deux" are not anomalies. Angel Studio...
ratpack223/iStock via Getty Images Investment Thesis I initiate coverage on Angel Studios ( ANGX ) with a Buy rating. The entertainment industry has historically destroyed an enormous amount of capital. Every traditional studio carries the structural risk that a single mega-flop can wipe out years of profits. Disney's "John Carter" and Warner's "Joker: Folie à Deux" are not anomalies. Angel Studios has structurally eliminated part of this risk. Through its Pay-It-Forward model, the audience financially and emotionally commits to a project before production. This is not a marketing innovation; it is a fundamentally different capital model that converts the industry's biggest weakness into Angel Studios' defining advantage. The primary risk: revenue volatility inherent in entertainment, is precisely what the Pay-It-Forward model is designed to neutralize. However, even though the model partially neutralizes this risk, Angel Studios still needs to deliver compelling movies and TV series to sustain subscriber growth and the share price. Company overview How Does The Pay-It-Forward Model Work, why ANGX is different? Step 1 - Curation: Independent creators submit projects to ANGX, and "Guild members" (paying subscribers) choose which project should be developed. Step 2 - Crowd-sourced funding: Selected projects are funded through Angel's Funding Portal, where the Guild members invest directly (as if movies were stocks). Step 3 - Distribution & community activation: ANGX takes a distribution and platform fee, handles releases, and activates the Guild Members to drive opening weekend turnout and word-of-mouth marketing. Step 4 - Profit sharing: profits are split between the creators, the Guild members (the paying subscribers who funded the project), and Angel Studios. By doing so every stakeholder is financially aligned. The result is something traditional studios cannot match: every movie arrives with a baked-in audience, validated demand, and a community of investors who ...
Southwark Playhouse, London Morgan Lloyd Malcolm’s revenge drama has plenty of rug-pulling twists, but stilted presentation leaves little sense of jeopardy As a revenge fantasy between a former school bully and her victim, Morgan Lloyd Malcolm’s 2015 drama sits squarely at the baroque end of the spectrum. Heather (Cassandra Hercules) was targeted by Carla (Serin Ibrahim), a former friend turned cl...
Southwark Playhouse, London Morgan Lloyd Malcolm’s revenge drama has plenty of rug-pulling twists, but stilted presentation leaves little sense of jeopardy As a revenge fantasy between a former school bully and her victim, Morgan Lloyd Malcolm’s 2015 drama sits squarely at the baroque end of the spectrum. Heather (Cassandra Hercules) was targeted by Carla (Serin Ibrahim), a former friend turned class-room oppressor whose campaign culminated in a shocking incident of abuse. Several decades on, they meet, ostensibly to make amends, but Heather has a dark ulterior motive. It is clear the tables have turned in the interim: Carla is now the one oppressed by life, barely making ends meet, fielding a fifth pregnancy without any feeling of joy and in an unhappy partnership. Heather, by contrast, is a rich professional who fires sly broadsides at Carla, letting her know who came out on top. Continue reading...
Klaus Vedfelt/DigitalVision via Getty Images So, today I'll be looking deeper into Norwegian energy and the market that this involves. As I've said in previous articles, I've become more and more comfortable in the energy sector over the past 2-3 years. I now feel that I can speak with a higher degree of conviction about the companies involved therein. Not just the energy companies themselves, but...
Klaus Vedfelt/DigitalVision via Getty Images So, today I'll be looking deeper into Norwegian energy and the market that this involves. As I've said in previous articles, I've become more and more comfortable in the energy sector over the past 2-3 years. I now feel that I can speak with a higher degree of conviction about the companies involved therein. Not just the energy companies themselves, but the companies involved in servicing those companies or working with them. Both because Norway has such a significant industry there and because the players there are geographically close to me, I choose to focus much on these first. The first company I'm going to take a "crack" at here is called TGS ASA, often simply known by the three letters TGS. It's a Norwegian company traded on the Oslo stock market natively, with the ADR TGSGY . It's a thinly traded ADR, but not necessarily a super-small company by Scandinavian company standards. Looking at its general size and fundamentals, it has a market capitalization of about 29B NOK and an EV of about 35B NOK. It's relatively low debt in terms of long-term debt/capital, with a credit rating of BB-. This, of course, means that the company is junk-rated. It has a dividend yield of about 4%, currently 4.1%, despite having seen a significant surge in the past few months. My goal here is two-fold. Show you the company's fundamentals; why you may want to consider investing in TGS ASA; why it's a "safe company," by which I mean that the company is unlikely to go bankrupt , and why it may be safe to invest in at this particular juncture. We need to remember, of course, that the entire industry that we're looking at here, energy, is quite volatile. We can see this clearly in what I view as "lumpiness" in earnings. Part of what I will do is to explain this lumpiness. F.A.S.T. Graphs TGS Upside You need to understand that the fact that a company goes up and down like this doesn't mean that it's inherently bad - it just means that you need...
More than 300 foreign nationals were arrested in a raid on an alleged online gambling operation in the Indonesian capital of Jakarta, police said on Saturday, in one of the country’s largest crackdowns on illegal digital betting networks. The 321 foreigners, mainly from Vietnam, were arrested at a commercial building near the city’s Chinatown section that investigators described as a hub for more ...
More than 300 foreign nationals were arrested in a raid on an alleged online gambling operation in the Indonesian capital of Jakarta, police said on Saturday, in one of the country’s largest crackdowns on illegal digital betting networks. The 321 foreigners, mainly from Vietnam, were arrested at a commercial building near the city’s Chinatown section that investigators described as a hub for more than 70 online gambling websites, targeting players outside Indonesia, based on marketing records...
The chocolate biz is raising the bar with a lab to assess cacao beans from around the world. (Talk about a sweet gig!) Consumers and farmers stand to benefit from the "Standard of Excellence" program. (Image credit: Valerio Muscella for NPR)
The chocolate biz is raising the bar with a lab to assess cacao beans from around the world. (Talk about a sweet gig!) Consumers and farmers stand to benefit from the "Standard of Excellence" program. (Image credit: Valerio Muscella for NPR)